All Forum Posts by: Jennifer S.

Thanks @Charlie MacPherson I'll try to make the January one assuming no blizzards etc

Thanks @Thomas Hickey, helpful info. I'll look into the attic idea. I don't mind being patient and waiting for approvals but the unpredictability of neighbors does scare me. 

@Sam Albert, many thanks for the helpful info. The townhouse idea is intriguing. Can I drop you a line when I'm next in RI?

Hello all,

I'm in research mode on Providence and hoping to enter action mode in Q1/Q2 2018. Is anyone trying to add value by expanding number of units. Example take a larger two family and create a third unit. What are the zoning rules like? 

I understand from the Forums that each town in RI has its particular rules, so for the moment just seeking to learn how it works in Providence. 

Many thanks! 

Ps I hope to make the RIREIG meet up later in Dec. 

Pps I've been to Providence dozens of times so have a medium knowledge base but will supplement with driving and walking

Hi all

Many thanks for these great posts. I've been researching areas like New Bedford for cash flow buy and hold investment. I paused on it and switched emphasis to Providence RI as I felt I didn't have enough bandwidth to get to grips with flood zones and insurance. 

Curious how people are thinking on this long term. Do you assume in your cash flow modelling that existing flood zoning won't change in the future? 

A friend of mine bought an investment property near the beach that was quite elevated so premiums were very low but can't imagine the cost of elevating a hundred year old triple decker if zones change in the future. 

See also this piece in the globe ... Maybe this lady in fairhaven hasn't investigated all the mitigation steps but the figure did scare me a bit. I know one has to take articles with a grain of salt

https://www.bostonglobe.com/business/2015/06/02/co...

Thanks everyone for this great post! One thing I've learned over the years is to try to deflect all the no's that come your way. I recall so many people telling me in the early 2000s, don't buy a place in Boston, you are too young, you want to travel etc. There were multi families in South Boston selling for $100-150k that are now well into 7 figures. I listened to the no's stupidly.  

Then right after the crisis many people told me not to buy a condo, condo's are all bad, etc, not understanding that for an expensive city like Boston condo's are necessary and that bad associations can be improved and not all associations are bad. 

So, do tons of research but then have the confidence to handle the no's. Another no I got when I was quite young was around mathematics. I actually had a teacher tell me not to bother with math or science if I found it slightly hard, those aren't for girls anyway. Then I just put a bit more focus and elbow grease into it and turned out I loved economics and it has become a lifelong passion. If you find your passion go for it and that might help to overcome the obstacles of a male dominated space. I know it's not easy, just saying listen to the voice inside of you which is so many times right!

@Llewelyn A. many thanks for the post! Your class sounds amazing. Have you considered a webinar type version of it for people outside NYC? I'd be interested.

Thanks for the replies. Carol, I'll PM you. Russell, thanks for the insight! 

@Charlie MacPherson

Great advice, I will definitely consider it. I didn't want to offend any of the 500k there, like I say I love the south shore had just assumed traffic got worse since I was there but the commuter rail and boats have been expanded so very happy to stand corrected! 

Hi Charlie,

@Charlie MacPherson

I have 2 separate research projects: cash flowing multi family and flips of SFR. For SFR the school systems are super important. I am not sure if my data is off but even the wealthy towns on the South Shore don't score as well as some Metro West towns. I'm sure people do just fine growing up in these places but it's strange how many of their high schools don't feature in the top 30 lists or manage higher than 6s or 7s. Perhaps people are sending kids to private school more than in Metro West. I know that numbers also don't tell the whole story.

For cash flowing multi family I'm interested in the income stream, and whether there are good cafes, restaurants, etc nearby enough. I'm paying less attention to schools there. 

Maybe I am taking the wrong framework but that's my current thinking. Of course if I find a good schools system and cafes, that will be the jackpot!

I actually really love the South Shore myself and had many glorious beach days at Nantasket, Humarock and Green Harbor growing up. I do worry though about the commute outside of commuter rail towns. I had a short time in the late 90s commuting on the Southeast Expressway by car and I'm still in a bit of PTSD. So that's why trying to understand for these further out towns, how are people managing to commute. Do they work from home? Work close to their home somehow? Etc